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"AUSSI" my thread and anything I want to put here

  • #7,001
  • May 16, 2020 11:46am May 16, 2020 11:46am
Asia ,, reckon it is a definition of technical for the most part ,, a couple lines and the days open and knowing all they are gonna do is tickle a previous days low or high and then a support or res level either way ,,,thts asia ,, thts what they do ,, tht is bout all they do ,, a large day previous ,, gives em a bit more room to work with ,, tht little sliver is asia ,, rollover to 1 am new york,, the time when business starts picking up ,,, but as said,, a couple simple lines drawn and one can get a shekel from what they do and its there everyday and as said ,, after a while it really shouldnt come as a shock lol,, tht is what they do ,, one may even consider using tht to benefit themselves ,, especially after putting a whole lot of trading jargon bullshit to the curb where it belongs ,,
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  • #7,002
  • May 16, 2020 12:22pm May 16, 2020 12:22pm
Like the rest of the mkt ,, they will have usually one of the "30" percnt of the time days ,, maybe with a fuel source -aka- news ,, but the set up will already have been in place ,, and it will take a pair tht is typically a bit more of a mover than some ,,
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  • #7,003
  • May 16, 2020 2:46pm May 16, 2020 2:46pm
Quoting FrontalIce
Hello everyone! This week has been a terrible week, after bad information, a margin call, and inexperience of the volatility of the market, my account has been stripped 4/5 of its worth (£126 left)... the MOST frustrating part is that I'd have kept those trades open on gold I would've been laughing instead of being in whatever state this is now. Nonetheless, I must move on; I hope with the consultation of yourselves that I could, with god's grace, break even with my account. Thank you all, I'm apprehensive to hear back.
There in lies the quagmire ,,, had you went with the mkt to begin with you would have been laughing all the way to the bank ,, not waiting for shit to come right so you could laugh ,,,, I can guarantee you enough of them will never come right to laugh very often ,, or make up for the money lost on the times they dont ,,, dont get caught in the doing same thing expecting different results phase ,, it is a shithole tht takes a long time to get out off ,, inexperience ,, you have a lot less shit to unlearn ,,, tht is a strength for you out of the gate ,,, make good use of it or you wont be laughing much ,,,
  • #7,004
  • May 16, 2020 3:13pm May 16, 2020 3:13pm
Quoting FrontalIce
Hello everyone! This week has been a terrible week, after bad information, a margin call, and inexperience of the volatility of the market, my account has been stripped 4/5 of its worth (£126 left)... the MOST frustrating part is that I'd have kept those trades open on gold I would've been laughing instead of being in whatever state this is now. Nonetheless, I must move on; I hope with the consultation of yourselves that I could, with god's grace, break even with my account. Thank you all, I'm apprehensive to hear back.
What is your trading process? When do you enter a trade, where, why? How do you get out of your trades, what reason is used for closing at a profit or loss, what reason is used for setting your stop loss and take profit, what reason is used for closing a losing trade before your stop loss is hit, when could or should you move a stop loss closer or to break even+1, what is your max draw down/risk allowed per trade, per day, per week? Do you have a picture of your best couple of most consistent trades that work for you time after time? digger1 shows his process via the pictures he posts and tells his reasoning in the comments. Early on in this thread, Aussi shows his set up and process. I show my work in my thread. we're all different. We all arrived in very different ways.

There's a lot that goes into this and we can't fix it for you. When I hit a specific % of loss for the day I lose trading privileges for the rest of the day. If I do it again in the same week or I hit a certain percentage of loss in a calendar week I am not allowed to trade live for the rest of the week and the next week and have to go back to demo. That's the punishment for me being stupid or allowing myself to be distracted or not following my process or whatever other excuse a human comes up with for either not having a process or not following the one they do have. I am not allowed to think about 'breaking even with my account." The market doesn't care about you getting your money back. You should not care either. Only care about the process because it's the only thing you control.

If you have a repeatable proven trading process and you follow it...that's the best you can do. The market will do what it wants after that. My job each year, month, week, day, and each trade is to do my process. I can only control whether i do my process which ultimately includes opening and closing trades. After that it's up to the market to determine what happens.

What is your trading process?

(I'm not suggesting your write it on this thread.)
  • #7,005
  • May 16, 2020 3:19pm May 16, 2020 3:19pm
Quoting FrontalIce
Hello everyone! This week has been a terrible week, after bad information, a margin call, and inexperience of the volatility of the market, my account has been stripped 4/5 of its worth (£126 left)... the MOST frustrating part is that I'd have kept those trades open on gold I would've been laughing instead of being in whatever state this is now. Nonetheless, I must move on; I hope with the consultation of yourselves that I could, with god's grace, break even with my account. Thank you all, I'm apprehensive to hear back.
Hi mate, what do you mean "bad information"? Do you mean bad news? Plenty of information on this thread about what do with news. Don't listen to it. I know you don't want to hear this but as a newbie, play small, the smallest your broker will allow, 0.01 or 0.1 whatever. Start reading all of this thread and focus in on the things that resonate with you. Take it in, practice what you've learnt, when you fck it up realise you haven't learnt it at all and learn it again. It's just practice and cutting losers quickly, get a stop in to break even as quickly as you can. If you hit the right area price will put you into profit quickly, so then protect and trail your stop to target. Loads of information to read here. But noone will operate your account for you. That's on you. All the best mate
  • #7,006
  • May 16, 2020 7:00pm May 16, 2020 7:00pm
Hi Digger,
Please see ,y attachment , i only post 2 tf that was H1 and m15 like you told me to pay attention to that tf.H1 price past midpoint last week it still in reversal zone ,price will go down and hit ADR low or Pivot .Stoch even it above 50 but trend go down .M15 price in reversal line and stoch way to trend line . You told me to draw flag pattern , I wonder how can i decide at which point i can draw flag pattern .Last Friday I was very nervous f or couple hours befor market close kept short and price continue went up but finally it went down and I have some atm, not bad , still learning , I have to be patience dont enter too soon , even i know i can be right but this trading you can be right and be wrong all the time , just try my best and look with eye and chart , left chart to see it will happen again base on past day. Thanks for your guidance Digger .Stay healthy and safe , enjoy your day without trading .
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  • #7,007
  • May 16, 2020 7:50pm May 16, 2020 7:50pm
Or it can be W pattern , it will go up when Asia market open , of course i dont count on last Friday pattern (last trend ) still base on last Friday to create an other pattern ,practice and waiting from your approval Digger .Thanks
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  • #7,008
  • May 16, 2020 10:56pm May 16, 2020 10:56pm
Quoting munchie
Hi Digger, Please see ,y attachment , i only post 2 tf that was H1 and m15 like you told me to pay attention to that tf.H1 price past midpoint last week it still in reversal zone ,price will go down and hit ADR low or Pivot .Stoch even it above 50 but trend go down .M15 price in reversal line and stoch way to trend line . You told me to draw flag pattern , I wonder how can i decide at which point i can draw flag pattern .Last Friday I was very nervous f or couple hours befor market close kept short and price continue went up but finally it went...
Thts good munchie ,, ,, quick review of Friday ,,, ya know it was above some shit ,,,, ya know there is an old weekly high around 1745 ,,so being above some shit ,, you automatically look at whats around 1745 ,, well look at tht ,,, 2 things up there ,,, ,,whats asia do ? ,, they buy support ,,, big bad london comes on line ,, what do they do ,, sell just enough to hit support ,,usa comes on line ,, what do they do ,, boom 3 fifteen minute candles ,,right to your monthly level ,,, ,,back down but ,, your m15 candle closes above what ? spends the rest of the day chopping slowly up takes out tht monthly area ,, day closes back below tht previous high ,, tht is where things are at ,, pretty decent pattern there now ,, you what it means ,, you know the areas tht have to fail and thn it will start chewing shit back up the other way till it finds a level it likes ,,
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  • #7,009
  • May 16, 2020 11:05pm May 16, 2020 11:05pm
to a peek at your hourly ,, ,, its burned some shit up as they say in racing to get back up here ,, poor ole macd just been banging his head on the ceiling ,,, ,,stochs have been pinned to the top but with the drop Friday towards eod ,, both starting to drift a bit lower ,,, our main average a bit down there now ,, ,, figure out where the big forest levels are at and soon a new line in the sand to start the week and another day ,, start drawing lines again ,, lol,, just gonna be more of the same ole shit ,, only this coming week with some more practice under your belt ,, you will keep just a little more ,, thn a little more etc etc ,, sure and steady ,, use the tracks munchie ,,
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  • #7,010
  • May 16, 2020 11:12pm May 16, 2020 11:12pm
there is what your hourly chart covered on the real scalping chart munchie ,, the yellow square
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  • #7,011
  • Edited 11:36pm May 16, 2020 11:23pm | Edited 11:36pm
Around 6:30pm eastern time Thursday night I posted this to my thread:
1- my first thought is to wait to see if price comes up to the 4 hour supply box @ the 131.39 area and crashes because that would include hitting the moving average and the green would bounce off of yellow on the sentiment indicator. Otherwise I'll be looking for some convincing price action and confluence of reasons to take a short.
2- i don't really have a long scenario because 20 pips isn't enough reward to get me to take the trade up to the 4 hour supply. However, because price is setting inside the weekly demand area, if price gets above the 131.50 area and everything else gives me a reason to take the trade (meaning everything on my charts has reversed to a long) then I may be interested in that trade.
3- for a long, i would much rather see price come back and tap the 130.35 area before moving up. (if price action warrants it.)

Here's how those three scenarios did or did not pan out Thursday Asia through close of US:
Scenario 1 is in Picture 1 for the 4 hour view.
Scenarios 1, 2 and 3 are in Picture 2:
Price did what scenario 1 called for. Went up and hit the 131.39 area and crashed 180 pips
Price did what scenario 2 called for. Went up and reversed at the 131.39 area for 25 pips
scenario 3 and the reversal process if it's a losing trade (don't ever give up on a trade, just go the other way if you're trading during high volume times and the price action says to.)

If I'm trading inside a swing trade my goal is to stay with the trend even if my last trade is a losing trade, but if I do happen to take a counter trade and it doesn't work out during high volatility times i'll just reverse the trade using the same risk %, lot size, and stop loss size (number of pips) as the trade that just went bad.
There are several reasons I would not have taken the trade in scenario 3: late on a friday, price action was wrong, if the trend is short you only short into the moving average, if the trend is short you only short into the moving average, the sentiment green line is hitting the upper band so it's too late in the move, etc.
The info here for this scenario is just to show how, where, why to close and reverse when I'm wrong.

Picture 4 is where I started the week...a move from that ended up going 300 pips.
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  • #7,012
  • May 17, 2020 1:47am May 17, 2020 1:47am
lets see ,, where were we ,, oh yes ,, some runners sttped out from yesterday ,, mix and match of other various ones mixed in from tractor ,, didnt want to load just before rollover and pay tht swap ,, ,, did buy on bounce down from the ole m15 200 ,,those closed and gone ,, and now the next best spot ,, ,, I know what the tracks indicate ,, its had its fun testing support ,,, lets see if it can poke the next level ,,whether it does or doesent ,, several will be closed here in profit and a few runners left for shits and grins ,, ,,on too the next ones , just another chart yada fcking yada , probably none till regular mkt open again ,, been a damn good week end ,, cheers folks
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  • #7,013
  • May 17, 2020 2:00am May 17, 2020 2:00am
even got a couple shitty ones lol,, multi tasking
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  • #7,014
  • May 17, 2020 7:20am May 17, 2020 7:20am
Shekel collected ,, cheers folks ,
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  • #7,015
  • May 17, 2020 9:20am May 17, 2020 9:20am
Quoting digger1
Shekel collected ,, cheers folks , {image}
Love your posts as they're very educative mate, do you have any books to recommend to learn more about your trading method apart from observing your posts, or did this all come naturally through market observation and experience for you?
  • #7,016
  • May 17, 2020 8:26pm May 17, 2020 8:26pm
Quoting chasinpips
{quote} Love your posts as they're very educative mate, do you have any books to recommend to learn more about your trading method apart from observing your posts, or did this all come naturally through market observation and experience for you?
After going through the normal process of what most go thru ,, and constantly getting my ass handed to me ,, and then meticulously going thru each one ,, omg ,, the shit passed off as the way "Trading is done " settled into a few of the simpler patterns ,,the flags and pennants ,, head and shoulder patterns ,,, and then going thru and realizing they all aint gonna lay pretty on a chart like the book says lol,, and then just a lot of bloody days till it was scar tissue ,, then it would just be bruises to what you see posted ,, so if anything just study flags and the Head and shoulder patterns ,,, then start drawing lines ,, then ya know what session ,,who done what where ,, yada yada ,,, lol
  • #7,017
  • May 17, 2020 8:32pm May 17, 2020 8:32pm
these runners stopped ,, but many to a small tgt ,, ,, 2nd time around now ,, missed the open ,, made sure my phone was left in my truck and not in tractor with me lol,, reckon just the follow thru from Friday ,, took a few cracks sht ,, from the weekly cam level ,, definitively has bit of a head of steam up ,, now settled into its normal 30 -35 pip or so range ,,some levels below to test ,, no telling when it will tho ,, ,
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  • #7,018
  • May 17, 2020 8:52pm May 17, 2020 8:52pm
couple projections from the big ole pattern there and now a flag break out again ,, been several on this trip up ,, ,,is some quarterly numbers in tht area ,,, ,, still gotta do it with the mkt tho ,,
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  • #7,019
  • May 17, 2020 8:56pm May 17, 2020 8:56pm
which if /when hit ,, is here lol
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  • #7,020
  • May 17, 2020 9:26pm May 17, 2020 9:26pm
Quoting digger1
{quote} After going through the normal process of what most go thru ,, and constantly getting my ass handed to me ,, and then meticulously going thru each one ,, omg ,, the shit passed off as the way "Trading is done " settled into a few of the simpler patterns ,,the flags and pennants ,, head and shoulder patterns ,,, and then going thru and realizing they all aint gonna lay pretty on a chart like the book says lol,, and then just a lot of bloody days till it was scar tissue ,, then it would just be bruises to what you see posted ,, so if anything...
And you've got something going for you most of us don't... if you ever lose your trading touch, you can always fall back on the 40 acres & a mule routine.

(So... how's it going man? Hope you're doing well!)
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